Director Shareholding

Lloyds TSB Group PLC
04 August 2003

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS
           

1. Name of company

LLOYDS TSB GROUP plc

2. Name of director

MR. ARCHIBALD GERALD KANE

3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest

SEE SECTION 6

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)

    Mr. A.G. Kane:     77,446

    Miss D.M. Muirhead (Mrs. Kane):       613

    Lloyds TSB Share Schemes Trustees Limited (LTSBSSTL):      2,295

    Lloyds TSB Registrars Corporate Nominee Limited

    AESOP1 account (LTSBRCNL AESOP1):      797

    Lloyds TSB Registrars (ISA) Nominees Limited (LTSBR(I)NL):

    - Mr. Kane: (Single company maxi ISA):      946

5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)

SEE SECTION 6

6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary

Mr. Kane exercised share options under the "Lloyds TSB Group
plc executive share option scheme (1989)" and the "Lloyds TSB
Group executive share option scheme", and has therefore
acquired Lloyds TSB Group shares, as follows:

     48,192 shares at 207.5p per share

     23,008 shares at 282.5p per share

     35,347 shares at 242.5p per share

     106,547

In addition, he was allotted 15,463 shares as compensation for
the special dividend of 68.3p per share which was paid to
former TSB Group plc shareholders in 1996, following the merger
with Lloyds Bank Plc, but which was not paid to optionholders.

Subsequently, Mr. Kane transferred 40,000 of the shares to Mrs.
Kane.

Mr. Kane sold 66,547 of the shares and Mrs. Kane sold the
40,000 shares both at 454.25p per share.

All of these transactions took place today.



7. Number of shares/amount of stock acquired

SEE SECTION 6



8. Percentage of issued class

MINIMAL



9. Number of shares/amount of stock disposed

SEE SECTION 6



10. Percentage of issued class

MINIMAL


11. Class of security

ORDINARY SHARES OF 25p EACH

12. Price per share

SEE SECTION 6

13. Date of transaction

SEE SECTION 6

14. Date company informed

SEE SECTION 6

15. Total holding following this notification

    Mr. A.G. Kane:     92,909

    Miss D.M. Muirhead (Mrs. Kane):       613

    LTSBSSTL:      2,295

    LTSBRCNL AESOP1:      797

    LTSBR(I)NL:

    - Mr. Kane: (Single company maxi ISA):      946



16. Total percentage holding of issued class following this notification

MINIMAL



If a director has been granted options by the company please complete the
following boxes.

17. Date of grant

N/A


18. Period during which or date on which exercisable

N/A


19. Total amount paid (if any) for grant of the option

NIL

20. Description of shares or debentures involved: class, number

N/A


21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at time of exercise

N/A

22. Total number of shares or debentures over which options held following this
notification

1,181,801

23. Any additional information

N/A

24. Name of contact and telephone number for queries

A.J. MICHIE, SECRETARY               020 7356 1043

25. Name and signature of authorised company official responsible for making
this notification

A.J. MICHIE, SECRETARY

Date of Notification

4TH AUGUST, 2003



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